Why did this happen during a time when the economy was suffering from the effects of the pandemic? Well, there are a few interesting reasons that have been proposed for this COVID-fueled sales surge, and those reasons may carry into 2021 as well.
Let’s take a closer look and see if we can expect to see further growth in motorcycle sales or if that trend has already peaked.
An early boom
As the effects of the COVID-19 pandemic began to hit economies worldwide, many industries immediately saw negative changes. From lower sales to delayed supplies, there were many ways that companies suffered across the globe.
However, by early June of 2020, some economists already recognized that motorcycles sales seemed to remain up to a surprising degree. Manufacturers that saw lower sales than usual in the early months of 2020 began to see their sales growth in April, May, and June.
Leaders of motorcycle sales across the US showed that their sales were up more than 20% in year-over-year comparisons from 2019, and they remained hopeful that those sales would continue throughout 2020.
A relative surge
When talking about sale surges, it’s important to remember that these surges are relative. By the end of 2020, sales were still lower than they were forecasted to be before the pandemic hit. With the complications brought by the pandemic, however, motorcycle sales showed that the industry was able to recover faster and earlier than many other industries.
Why did motorcycle sales surge?
There have been a number of suggestions as to the exact reason why motorcycle sales surged during a decimating pandemic and loss in many different industries. While official studies may take some time to fully understand this phenomenon, industry leaders have given their ideas on why they believe people were ready to buy motorcycles even while the economy struggled.
A desire to get out of the house
One of the primary reasons Motorcycle Safety Lawyers believes a surge happened in motorcycle sales was the desire people had to get out of the house. Due to long lockdown periods and fear of contracting COVID-19, many people were stuck at home.
Whether for the roads or off-road exploration, motorcycles provided many people a way to adventure without getting near other people. Getting out of the house safely became increasingly tricky through the worst parts of the pandemic; motorcycles provided an exciting escape.
It wasn’t just road-ready bikes that were selling more rapidly in 2020. Many companies saw that they were selling more dirt bikes than ever before, and this makes a lot of sense considering the social conditions that people were facing during the pandemic.
While traveling long-distance may not have been a priority during 2020, getting outside and having a good time was. Dirt bikes brought that joy to many people. Getting away from the risks of the city and more densely populated areas to motorcycles in rural areas made a lot of sense for many during lockdowns.
The ‘learn how to ride’ feeling
Some motorcycle enthusiasts have suggested that people who have long wanted to learn how to ride felt a feeling of now or never during the pandemic. People around the world used the unique circumstances of 2020 to learn new skills.
For some people, that skill was how to ride a motorcycle. Those that dreamed of owning a motorcycle, learning how to ride one safely, and get out on the roads may have felt compelled by emptier roads and extra free time.
Where the market is heading?
Many may wonder if these surges are expected to continue or if the market is going to stabilize. As with many things going into the second year of the pandemic, it’s hard to say for sure.
Things like house prices are soaring where demand cannot be met, but is that going to be the same in other industries? Most expect the sales to remain high worldwide for a number of reasons:
- Tradelines opening back up, allowing for better international sales.
- Sales rates continued high into early 2021.
- Interest rates are low.
- Used bike supply is very limited.
Most motorcycle companies were able to keep up with demand relatively well through 2020 and into early 2021, and this means that they are continuing to make strong sales despite the struggling worldwide economy.
Experts expect this to continue, so enthusiasts should know what to expect when shopping around, and anyone interested in investing in the industry should consider this as well. Regardless of how the pandemic continues to affect our day-to-day lives, the simple fact will remain that motorcycles give people the freedom to explore and adventure safely.